Ann: Quarterly Activities and Cashflow Report, page-6

Please share how you come to that? Profit (as in Net Income) or some EBITyadayada number or a free cash flow number given low spend this Qtr?

At least a little more clarity to Vitol
"The Company entered into a revenue advance agreement with its oil purchaser, under which the
purchaser advanced the Company $30 million in the third quarter 2017. The Company will begin
repaying the advance in October 2017 at a rate of $20 per gross barrel of oil produced ($25 per
gross barrel beginning in January 2018 through complete repayment of revenue advance). The
advance bears interest at a rate of 10%."

Now based on SEA Q4 oil production (estimate) for Q4 - call it at least 750,000 Barrels of oil (too high??) ... given they are highlighting $14.5M Repayment to Vitol for revenue already received. Without spending too much time on it guessing additional $1.5M in interest gets added to their normal Revolver and Term Loan. I think there is about $4M-$6M in interest payments not accounted for.

Were you maybe just using the Q3 Net Cash Used in Operations of $27.664M and back the Dev Capex of approx $42.823M = $15.159M and then thinking if Dev Capex drops down to $6.3M they have $9M leftover??